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RBI issues new series of 'star' banknote

The new series will be issued in Rs 10, Rs 20 and Rs 50 denominations to replace defective notes.

india Updated: May 09, 2006 15:41 IST
Press Trust of India
Press Trust of India

The Reserve Bank of India has introduced a new series of 'star' banknote, which will be issued in Rs 10, Rs 20 and Rs 50 denominations to replace defective notes in various series.

The new series of notes would look like the existing ones in the Mahatma Gandhi series but will have an additional character - a *(star) in the number panel, a RBI release said on Tuesday.

These notes have been issued as part of efforts to benchmark its procedures with international best practices.

The RBI has proposed to adopt the Star series numbering system for replacement of the defectively printed banknotes, the release said.

Packets with star series notes will have 100 pieces as usual but not in serial order, it said adding the series would be legal tender and members of public may freely accept and use these notes.

To identify the note packets containing star series notes, the bands on such packets would clearly indicate the presence of these notes in the packet, it added.

First Published: May 09, 2006 13:44 IST